Wall Street brokerages predict that AxoGen, Inc (NASDAQ:AXGN) will announce sales of $28.10 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for AxoGen’s earnings. AxoGen posted sales of $22.66 million in the same quarter last year, which suggests a positive year over year growth rate of 24%. The business is expected to announce its next earnings results on Monday, November 4th.
According to Zacks, analysts expect that AxoGen will report full year sales of $107.30 million for the current fiscal year, with estimates ranging from $107.00 million to $107.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $139.83 million, with estimates ranging from $136.60 million to $146.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow AxoGen.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.09. AxoGen had a negative return on equity of 16.73% and a negative net margin of 26.91%. The company had revenue of $26.70 million during the quarter, compared to the consensus estimate of $26.77 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 29.7% compared to the same quarter last year.
AXGN has been the subject of several recent research reports. ValuEngine raised AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Canaccord Genuity set a $30.00 price objective on AxoGen and gave the company a “buy” rating in a research note on Wednesday, August 7th. JMP Securities lowered their price objective on AxoGen from $43.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. BidaskClub downgraded shares of AxoGen from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald decreased their target price on shares of AxoGen from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. AxoGen presently has an average rating of “Buy” and a consensus target price of $31.00.
In other news, insider Isabelle Billet bought 5,635 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $15.11 per share, with a total value of $85,144.85. Following the transaction, the insider now owns 4,630 shares of the company’s stock, valued at approximately $69,959.30. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CIO Daniel Pietrzak acquired 10,000 shares of AxoGen stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $5.65 per share, with a total value of $56,500.00. Insiders have acquired a total of 107,535 shares of company stock valued at $1,389,672 in the last three months. Insiders own 6.77% of the company’s stock.
Several hedge funds have recently made changes to their positions in AXGN. NumerixS Investment Technologies Inc grew its position in shares of AxoGen by 62.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 11,000 shares of the medical equipment provider’s stock worth $226,000 after buying an additional 4,220 shares during the period. Granite Investment Partners LLC bought a new position in shares of AxoGen in the 1st quarter worth $1,561,000. Formula Growth Ltd. bought a new position in shares of AxoGen in the 1st quarter worth $948,000. Cortina Asset Management LLC lifted its holdings in shares of AxoGen by 35.0% in the 2nd quarter. Cortina Asset Management LLC now owns 251,850 shares of the medical equipment provider’s stock worth $4,987,000 after purchasing an additional 65,237 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in shares of AxoGen by 33.9% in the 2nd quarter. Peregrine Capital Management LLC now owns 630,197 shares of the medical equipment provider’s stock worth $12,478,000 after purchasing an additional 159,430 shares in the last quarter. 85.27% of the stock is owned by institutional investors.
Shares of AxoGen stock traded up $0.27 on Friday, hitting $11.85. The stock had a trading volume of 163,398 shares, compared to its average volume of 392,941. The stock has a 50 day moving average of $14.27 and a 200 day moving average of $18.65. AxoGen has a twelve month low of $10.91 and a twelve month high of $39.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.87 and a current ratio of 8.70. The firm has a market capitalization of $455.36 million, a P/E ratio of -21.94 and a beta of 0.17.
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
Further Reading: What is the downside to momentum investing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AxoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen and related companies with MarketBeat.com's FREE daily email newsletter.